A Problem In Cell Fracture
Final:



Overview:

As for most of those issues the main problem lays in bad topology.

Example above is made from retopologized Text Object. It's not the best topology you can get but it should show you what you want to achieve finally. Quad based topology.



You can try to use Remesh Modifier. Check:


better Curve/Text to Mesh generation?
Change that convoluted font mesh


But those are examples for Text Object. As for more complicated meshes Remesh Modifier is not working very good. 


  Take my advice and start making meshes with quad topology in mind. It
  will pay off quickly.


My example was made by deleting inner part of each letter and then filling them with new quads by hand. F2 and LoopTools addons can help you a bit.

I'm not making How to retopologize Text Object answer as this is not a part of this question.